Anyone scalping the FTSE Futures??

Dick Lexic said:
yes a new low likely but u never know ..worth a little punt :)

u still big time short?
Click to expand...

You mean re my previous comment on the weekend ? Didn't take it , just daytrading both ways , its just a long term view of the market i believe we may see 16XX in months ...
 
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postman said:
"... the only focus of chart analysis needs to be unfilled buy and sell orders from banks and institutions, nothing else."

So that will be Buy and Sell stops!
Who'd have thought it, prices move until buy and sell stops have been triggered. Duh! How has it taken people so long to figure this out.
Click to expand...

immediacy is the key I think.

buyers/sellers being matched
 
yesterday was the biggest volume day for ftse march, since 3rd week of jan

there not messing around.
 
Dom today
Nasty dip

DAX 30
FTSE 100
S&P 500


The weakness on Wall Street caught me out yesterday. While I was rightly bearish on the DAX, I should have been more discerning when it came to the S&P’s rather unconvincing action. With all the indices in a very sorry state as of now, I think a near-term snapback could be in order. Whether or not it turns out to be the start of a lasting recovery remains to be seen. I do ultimately expect the current shakeout to lead to another good buying opportunity, with new highs in the S&P and FTSE to follow. I am willing to take small shorts at the end of an intraday rally, meanwhile.


Yesterday: “I’d just about short a reversal at the 21-EMA, targeting below 9141.” I should have had more conviction in my bearish view yesterday, as the DAX plunged to and through my target. It is now deeply oversold, so a snapback is likely in order. Another failure at the 21-EMA could open up a further shorting entry.

DAY: I’d short another reversal at the 21-fourhourly EMA.

POSITION: Neutral.

FTSE 100

The FTSE too has become deeply oversold on its fourhourly chart. It has now returned to its 200-day moving average, just as it did in October, December and January. Each time a rally followed, making a slightly higher high. I reckon the same will happen this time. In the meantime, a snapback to the 13-EMA could be seen.

DAY: I might short another drop through the 13-EMA, targeting 6450.

POSITION: I await a recross of the 21- and 55-EMAs in order to buy again.

S&P 500

My bullishness here was unwarranted yesterday. I should have been distrustful of the S&P’s rally, given the lack of fullbloodness that I mentioned, and my more bearish views elsewhere. With the 21-EMA having crossed below the 55-EMA, my bias has gone negative. I expect a rally first to the 21-fourhourly EMA.

DAY: Exit remaining longs, short another drop through the 13-EMA, targeting 1833.
 
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